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Mortgage Market Update

click for larger imageThe rate markets are under pressure again this morning. The recent spike in interest rates adds more confirmation to our forecasts that the lows in the interest rates markets are now in place and rates are unlikely to fall to new lows. The recent stampede to the safety of US treasuries became excessive; the run down in rates was mostly in treasuries but mortgage rates benefited as the outlook for the US economy hit new lows in July and August. A lot of concern the US economy would double dip and fall back into text book recession sent investors, both domestic and foreign, to the safety of bonds.  There just isn't much room left for improvement, but a lot of room for rate to go up.  I would Strongly advise capitalzing while you can.

Want to know more on how the Mortgage Market directly effects mortgage rates or need an explanation of the candlestick chart above? Send us an email and we'll gladly provide an in depth article.  Realtors, ask about a detailed presentation on the Mortgage Market at your next office meeting.

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Friday
Mar052010

FHA Changes . . . AGAIN!

DateFriday, March 5, 2010 at 12:33PM

FHA loans are the most popular financing option for homebuyers for many reasons.  The low down payment of 3.5%, minimum credit score of 620, and flexible debt-to-income ratios makes FHA the financing of choice for over 70% of my clients. 

There are many proposed changes for FHA and while they haven’t all been set into motion yet, we have certainty of one change which will negatively affect potential home buyers.   As of April 5, 2010, FHA increased their funding fee from 1.75% to 2.25%

Further changes are in the works, so if you have found the home of your dreams, move quickly before FHA mortgages are further restricted and become more costly.

As always, I’m here to care for your family and save you some CA$H . . . it’s a pleasure serving you!



AuthorPamela Crim | Comments Off |
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